The subject of the debate is Bill OíReillyís belief, widely shared within the conservative bubble, that President Obama has offered no concessions on long-term spending cuts. This is factually untrue ó Obama has offered a plan including more than a trillion dollars in reduced spending to a variety of programs, including Medicare and Social Security, as well as the reduced spending on interest payments. Obama’s budget alsot also details his proposed cuts to scores of programs in an extensive 205-page document.